The most important, but least discussed, "tax cut" which is set to expire on January 1, 2013 is the "temporary" reduction is Social Security taxes. This politically expedient "stimulus" to the economy has done nothing but accelerate the impending insolvency of this program, but allowing it to expire will result in a noticeable reduction in the disposable incomes of middle class families. When this is compared with the much ballyhooed "tax cuts for the wealthy," it is easy to understand the political appeal of the "class warfare" argument. The real winners in this scenario are individuals earning between $110,000 and $200,000 who escape Social Security taxes on these amounts but are below the radar screens of the "tax the rich" crowd. It seems to me that the most equitable way to address this problem is to let the Social Security tax cuts expire but eliminate the earnings cap on these taxes. This would result in a more justifiable, but less economically damaging, increase in tax revenues than would raising income tax rates. Thoughts?